NEW YORK, Aug. 15, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced American Rare Earths Ltd (ASX: ARR; ADRs - OTCQX: AMRRY; Common Shares - OTCQB: ARRNF; FSE:1BHA), a mineral exploration entity focused on the discovery and development of rare earths and other critical minerals in North America and Australia, has qualified to trade on the OTCQX® Best Market.
American Rare Earths Ltd begins trading today on OTCQX under the symbol “AMRRY.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
“We are pleased to reach the milestone of trading on OTCQX, as this will make it easier for our U.S. investors to invest in American Rare Earths by reducing the requirement of having an Australian trading account,” said Donald S. Swartz, II, CEO of American Rare Earths. “Given that demand for rare earths is expected to escalate sharply in the coming decade, trading on the OTCQX market is expected to generate significant interest among US investors as the company continues to execute on its strategy of becoming a US-based entity.”
About American Rare Earths Limited:
American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF | FSE:1BHA) is committed to becoming a top supplier of critical minerals. The company is a leading explorer of rare earth projects with a strong focus on developing sustainable and cost-effective extraction and processing methods. To meet the rapidly increasing demand for resources essential to the clean energy transition and US national security, American Rare Earths is engaged in advanced study and continued exploration of its 100% owned rare earth element projects rich in magnet elements of neodymium and praseodymium at Halleck Creek in Albany County, Wyoming and La Paz, Arizona. Both projects have the potential to be among North America’s largest rare earth deposits. ARR’s Halleck Creek deposit was recently identified by Mining.com as fifth in the world’s top rare earth projects. A recently released maiden JORC Resource report for Halleck Creek shows 1.43 billion tonnes of in place TREO, 4.73 million tonnes TREO containing approximately 1.05 million tonnes of the highly desirable magnet metals neodymium and praseodymium oxide. The Halleck Creek deposit is located approximately 70km north-east of Laramie encompassing portions of Albany and Platte Counties in Wyoming. The Company continues to evaluate other exploration opportunities and is collaborating with US Government supported R&D to develop efficient processing and separation techniques of rare earth elements to help ensure a renewable future.
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